Gift Your Child a Secured Future in this New Year

The most important financial goal for a parent is to invest and save for their children’s future. It must be one of the most important aspects of financial planning for a parent. So, you can gift insurance plan to their children meeting their future requirements. Child plans bring home a bundle of joy further acting as a source of responsibility. It is a fundamental obligation of a parent to build a corpus for future of your children and in order to build corpus with a clear time frame, child plans help you to meet your financial goals and fulfilling your obligations as well. 

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Investing in your child's future:A wise decision & a loving choice
Benefits of Investing In Child Plan
Waiver of Premium Benefit
Future Premiums are paid by the insurer upon death of policyholder
Flexible Payout Options
Your premiums help your child achieve their dreams through lump sum or regular payouts
Wealth Boosters
Get rewarded with Wealth Booster and Loyalty Bonus for staying invested with us
Zero Commission
We charge no commission when you buy from us. Also buy online & get extra
Tax Benefits^
You get tax benefits under Section 80(C) and no tax on returns under Section 10 (10D)
Investment Flexibility
It offers the flexibility to invest at regular intervals or as a one-time contribution
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Nothing Is More Important Than Securing Your Child's Future

Invest ₹10k/month your child will get ₹1 Cr# Tax-Free* on Maturity

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We are rated++
rating
9.7 Crore
Registered Consumer
51
Insurance Partners
4.9 Crore
Policies Sold
Disclaimer: #The investment risk in the portfolio is borne by the policyholder. Life insurance is available in this product. The maturity amount of Rs 1 Cr. is for a 30 year old healthy individual investing Rs 10,000/- per month for 30 years, with assumed rates of returns @ 8% p.a. that is not guaranteed and is not the upper or lower limits as the value of your policy depends on a number of factors including future investment performance. In Unit Linked Insurance Plans, the investment risk in the investment portfolio is borne by the policyholder and the returns are not guaranteed. Maturity Value: ₹1,05,02,174 @ CAGR 8%; ₹50,45,591 @ CAGR 4%. *Tax benefits and savings are subject to changes in tax laws. All plans listed here are of insurance companies’ funds.

Child Plans

Children insurance plans behave like a regular life insurance policy and are designed in a way that they meet the needs of a child at certain specific stages. You can develop a goal based strategy such that your insurance policy matures at the time when your financial goal materializes. You can use a child plan to develop a lump sum amount over a period of time. Some insurance plans also provide fixed sum of amounts at regular intervals in order to meet specific education requirements.

From a very early age, parents can start investing in a child insurance plan. A parent can decide to invest in a child plan in order to save funds for their children’s wedding, training and other monetary needs of the children. The various children insurance plans accessible in the market, provides a tax advantage as well including serving the basic requirement of a long term insurance plan. The available Child Plans comes up with built-in flexibilities which keep the policy active and renounce off the premium even after the death of the parents. These options are enormously useful as no other financial instrument offers such kind of flexible options. So, as an investor children plan can work wonders as well fulfilling two aspects in one policy i.e. investment and security to the children.

There are two types of children insurance plans available in the country- endowment based funds and Unit linked insurance plans (ULIPs). Endowment plans depend largely on the insurer’s performance and thus you have to depend upon bonus largely. As endowment plans principally invest in debt instruments, an individual can’t expect high returns. ULIPs on the other hand invest their built corpus in equity markets and thus can expect high rate of returns but they are considered as volatile as equity markets are themselves volatile.  But they range from conservative to aggressive options and you can decide accordingly.

So, an individual can secure their children’s future by purchasing child insurance plan. You can believe that it is a guaranteed product that provides money to the child when they need it the most. You can buy a child insurance plan online via preferred provider website or through insurance aggregators which has emerged as the most convenient source of buying it. Further, you can compare insurance premiums via comparison tools provided by these insurance aggregators helping you to buy the best policy available.

˜Top 5 plans based on annualized premium, for bookings made in the first 6 months of FY 24-25. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
*All savings are provided by the insurer as per the IRDAI approved insurance plan.
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
#The investment risk in the portfolio is borne by the policyholder. Life insurance is available in this product. The maturity amount of Rs 1 Cr. is for a 30 year old healthy individual investing Rs 10,000/- per month for 30 years, with assumed rates of returns @ 8% p.a. that is not guaranteed and is not the upper or lower limits as the value of your policy depends on a number of factors including future investment performance. In Unit Linked Insurance Plans, the investment risk in the investment portfolio is borne by the policyholder and the returns are not guaranteed. Maturity Value: ₹1,05,02,174 @ CARG 8%; ₹50,45,591 @ CAGR 4%
+Returns Since Inception of LIC Growth Fund
¶Long-term capital gains (LTCG) tax (12.5%) is exempted on annual premiums up to 2.5 lacs.
++Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
^^The information relating to mutual funds presented in this article is for educational purpose only and is not meant for sale. Investment is subject to market risks and the risk is borne by the investor. Please consult your financial advisor before planning your investments.

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Insurers Offering Child Plans

Tata AIA

Aditya Birla Sun Life

Bajaj Allianz

Max Life

HDFC Life

ICICI Prudential

Bharti AXA Life

Edelweiss Life

Kotak Life

Future Generali

PNB MetLife

SBI Life

Aviva

Bandhan Life

Canara HSBC

IDBI Federal

IndiaFirst

Pramerica Life

Reliance Life

Sahara Life

Shriram Life

Star Union

View more insurers
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
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